Information on earned income credit and dependents. Can only one parent claim?

Question

We have joint physical legal custody of my step-daughter and it is our year to claim her on our taxes but we make over the amount to obtain the EIC. Can we still put her down on our taxes and let her mom take the EIC on hers?

Answer 1

The person claiming the Earned Income Credit has to have lived with the child more than six months. The mother would have to have the child for the greater period of time in 2006.

However even if the mother has the child for the greater period of time, you can still claim the child as a dependent as long as the mother agrees to it.